Markets Tank: Is Now the Time to Retreat?

Is the market in for a freefall?

Joel South
Joel South
Updated: Apr 7, 2017 at 4:59PM
Published: May 4, 2012 at 12:00AM
Author Bio
Joel is a University of Washington graduate and covers energy and materials for The Motley Fool. Be sure to follow The Motley Fool's energy and materials Twitter for all your energy and materials coverage.

Bank of America (NYSE: BAC) -- down 3.25%
The banking sector was hit a bit harder than the market in general today, with Bank of America performing the worst of all Dow components, finishing the day below $8 for the first time since the beginning of March. JPMorgan Chase (NYSE: JPM) didn't fare much better, finishing the day down 2.93%.

Chevron (NYSE: CVX) -- down 2.14%
Another sector hit particularly hard was energy, which was down 3% in the S&P 500. Chevron, as well as ExxonMobil (NYSE: XOM), traded substantially lower today as oil futures dropped below the $100 mark. A building oil supply, weak jobs reports, and slowing GDP growth in China have been huge catalysts in the current price retreat in oil.

The takeaway
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